Governors seek variations in CBN’s naira redesign policy

• Soludo Heads Governors’ Panel To Address Anomalies
Governors of the 36 states of the federation have charged the Central Bank of Nigeria (CBN) to effect changes in its naira redesign policy to address peculiarities in different states.

In a communiqué released, yesterday, after an earlier meeting of the governors with the Central Bank Governor, Godwin Emefiele, it was revealed that: “Governors are not opposed to the objectives of the naira redesign policy, but observed that there are huge challenges that remain problematic to the Nigerian populace”

“In the circumstances, governors expressed the need for the CBN to consider the peculiarities of states, especially as they pertain to financial inclusion and under-served locations.”

The governors set up a six-member committee to be Chaired by the Anambra State Governor, Prof. Charles Soludo and the governors of Akwa Ibom, Ogun, Borno, Plateau and Jigawa states, as members, to engage the CBN in addressing anomalies in the country’s monetary management and financial system.

According to the communiqué, which was signed by the chairman of the Nigerian Governors Forum and Sokoto State Governor, Aminu Waziri Tambuwal, the state chief executives also resolved to “work closely with the CBN leadership to ameliorate areas that require policy variation particularly the poorest households, the vulnerable in society and several other citizens of our country that are excluded.”

They also agreed “to collaborate with the CBN and the Nigerian Financial Intelligence Unit (NFIU) in advancing genuine objectives within the confines of our laws, noting that the recent NFIU Advisory and Guidelines on cash transactions were simply outside the NFIU’s legal remit and mandate.”